The world of business is changing more rapidly than ever before. With the ongoing turmoil in the markets, most business owners have more questions about running their companies than they have answers.

Even the most independent business owners and executives are looking to new resources for advice and guidance. Today, many are turning to outside business consultants or business coaches for insights into building a stronger, more competitive and more profitable company in this fast-changing economy.

This is a critical time we are in for every small and mid-sized business.

In this environment a good Business Coach may prove to be an invaluable resource. Unlike a business consultant who may have a narrow area of expertise or highly specific knowledge of a particular industry, a Business Coach can offer a wider perspective for an owner who typically can’t see the proverbial “forest for the trees.” And just like a sports coach guides his players to victory with a winning game plan, a business coach guides business owners - “holistic” view of the game of business - to success with winning business plans.

This idea of a “winning business plan” is based on strategies and tools business coaches have used that have helped grow hundreds of thousands of companies the world over. These proven tools generate good results, or business coaching as an industry would cease to exist – and numbers show the exact opposite. Not only is the coaching industry worth about $1 billion, it is also the second fastest growing industry in the world.

The power of a good business coaching program is to put effective tools, ideas and information directly into hands of owners who are busy running their businesses to go back to school or get an advanced degree. Good business coaching programs are also geared to be very pragmatic and hands-on, versus consultant programs which are highly theoretical.

A business coach is striving for exponential growth in a small business – which can often mean hundreds of thousands of extra dollars for the owner, very often with life-changing results. A coach is also seeking to decrease the number of hours an owner actually works in the business – creating leverage for the owner to use time in other more productive and profitable ways.

Here are six questions to ask to determine whether you and your business are a fit for business coaching, and what to consider before you hire a business coach:


1. Are you coachable – or at least willing to be coached?

This means acknowledging you don’t know everything, and you are willing to implement new and sometimes uncomfortable ideas for your company. You also have to be willing to accept the reason your company operates the way is does is because of what you already know and what you’ve already been doing.


2. Will you hold yourself accountable?

For large businesses, shareholders or a Board of Directors hold top executives accountable. As a small business owner, you’re on your own. Business coaching changes that dynamic by introducing an “unreasonable friend” who is on task and on goal to make certain you are, too.

Let’s say you told your Business Coach your new marketing plan would be done this week. Is it? You’d better have it, or else you are letting yourself, your company and your team down. You are also wasting your investment.


3. Is your company culture right for coaching?

Business coaching works best in an environment that is not overly political. Realize also that culture starts at the top. It also forms out of the lack of an organized culture, where, crudely put, the inmates institute the rules and are running the asylum.


4. What method-of-change is best for your business?

The best business coaching is focused on the long-term, because a number of things need to be in place to make companies commercial and profitable. The strength of a business coach should be viewed in terms of the systems and methodology behind the program. As any prospective coach or consultant “Is there a system and methodology?” Can the prospective coach clearly outline it for you?

In addition, you’ll find most prospective Business Coaches are generalists. This isn’t a bad thing. As long as the coach has a good understanding of the geographic marketplace, that person can usually bring new ideas and perspectives to the issues you are facing in your business. In fact, research has proven repeatedly that coaches or consultants who coach businesses in the same industry of their primary expertise do worse that an outside generalist.

Sometimes, the best ideas come from a true, objective outsider.


5. Do you have a list of questions for your prospective business coach and are you prepared for the answers?

Generally, you should feel there is a good personality match with your coach. My rule of thumb is that if you could go out to dinner with your business coach, it’s probably a good fit. Start creating a list of questions for your prospective business coach now, with below:

How will you work with my company and my team?

What is your background? How does your background apply to my business?

Do you have or work from a proven system of business development?

What kind of support do you have from your coaching company? How big is your network?

What is your company’s track record of business experience and proven results?

After your initial meeting, you can also ask yourself some questions that can help guide your decision, including:

Has the coach clearly outlined the differences between coaching and consulting?

Does the coach ask good questions?

Will the coach hold me accountable?

Was the coach honest about how we would work together?

Does the coach put you and your company first, or is the coach only interested in selling coaching products and/or services?

By viewing business coaching as a viable and effective alternative to business consulting, you may realize it is the best thing you can do for your company. It could be one of the best investments for your business, employees – and yourself – you’ve ever made.



Brad Sugars is the founder and CEO of ActionCOACH, the world’s number one business coaching firm. Born in Australia, where he started his company, he now resides in Las Vegas, where he runs ActionCOACH from its Global Headquarters. Read Brad’s coaching blog at ActionCoach.com.